How to answer this po? 5Test III= 40%A. Betz Company's sales budget shows the following projections for the year ending Dec. 31,2021:QuarterNo. of UnitsFirst60,00080,00045,00055,000SecondThirdFourthInventory at Dec. 31 of last year was budgeted at 18,000 units. The quantity of finishedgoods inventory at the end of each quarter should equal 30% of the next quarter's budgeted salesof units.REQUIRED:1. Prepare the production budget for the first and second quarters separately. Include a totalcolumn.B. The Charito Company is planning an overhead budget cost for May and June, 2021. Pastcost studies indicates that costs have followed behavior patterns as given below:Variable rate per hourP0.90Indirect materialsHeat, light & powerRepairs & maintenanceLubrication1.204.600.50In addition, management has estimated fixed factory overhead as follows per month:SupervisionP44,000Indirect labor36,000Heat, light and powerRepairs & maintenanceTaxes & insurance14,50017,2009,000During May and June, 2021, the company plans to manufacture 150,000 units ofproduct. Products are produced a the rate of 6 units per hour. Normal plant capacity is 15,000hours per month. REQUIRED:1. Prepare the factory overhead budget for May & June, 2021. Separate the fixed from thevariable cost components.2. Determine the unused normal capacity, if any.

A. Betz Company's sales budget shows the following projections for the year ending Dec. 31, 2021: No. of Units Quarter First 60,000 Second 80,000 Third 45,000 Fourth 55,000 Inventory at Dec. 31 of last year was budgeted at 18,000 units. The quantity of finished goods inventory at the end of each quarter should equal 30% of the next quarter's budgeted sales of units.

A. Betz Company's sales budget shows the following projections for the year ending Dec. 31, 2021: No. of Units Quarter First 60,000 Second 80,000 Third 45,000 Fourth 55,000 Inventory at Dec. 31 of last year was budgeted at 18,000 units. The quantity of finished goods inventory at the end of each quarter should equal 30% of the next quarter's budgeted sales of units.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Where did you find the formlulas for this solution?
What are the benefits and drawbacks of FIFO?
What differential analysis and why would we use it?
How can thepayback method be useful?
Explain what is meant by the decision pattern ?
Explain the Relationship to the PW Analysis?
What is OLTP and OLAP? How are they different?
What does the concept "substance over form" stand for? Can you provide me with some examples?
2-4A • LO 4 See Example 2-9 on page 2-23 SHOW ME HOW The wages and hours information for five employees of McNeese Enterprises for the week ended July 7 is given below. Employees work a standard 40-hour workweek and are paid time and one-half for all hours over 40 in each workweek. a. For cach employee, compute the regular earnings, overtime rate, overtime carnings, and total gross earnings. b. Compute the total gross earnings for all employees. Regular Hourly Wage Rate Regular Earnings Hours Overtime Overtime Total Gross Employee Worked Rate Earnings Earnings Carman, T. 47 $12.45 $ 2$ Galasso, A. 42 11.90 Jones, B. 48 10.85 Rodna, G. 44 11.25 Wilmon, W. 45% 13.40 (b) Total gross earnings ..
What is COSO? What is the PCAOB? Why are they important?